Replies to post #28808 on The TradingEdge

[jxyzobrien]

Have to finish
We failed to enter back in the channel or even in the big red daily candle
so more selling to come then rally. But it will be a rocky expiration
till the selling is done

[jxyzobrien]

SPX 1872
Usually the market holds a long term trend line. It did again but no
buyers arrived to support price. This means the market is doing a
round trip to SPX 1872.
This is wave 5 on the daily. Wave 1 and 3 are smaller than wave 5.
Again usually the energy dies in wave 5 but this is a flush with
juice.
So the trip from spx 1872 to 2116 is just acting in reverse.

Any one that tells you i knew it would go down further is flipping
a coin. Like 80% of the time a long term trend line will hold.